According to the latest joint report by Markit Economics and CIPS, the U.K.’s construction sector accelerated its growth in December 2015 after setting a 7-month low in November, Market Leader reports.
More specifically, the actual figures stated in the report seem to have exceeded analyst expectations. In particular, the Construction PMI increased from 55,3 points in November up to 57,8 points in December while analysts had expected an increase up to 56 points. This means that the PMI came out even stronger than expected.
As for residential and commercial property, Markit Economics reported that the tendency was restored in December 2015 after continuous negative dynamics seen from 2013 up until November 2015, which resulted in the lowest construction figures over the reporting period.
FOREX
In the meantime, Masterforex-V Academy reports that the British Pound is still going down against the U.S. Dollar after breaking below a major level of support at 1.4564. With that being said, the long-term downtrend is still underway.
The next major level of support is located at 1,4464. Alternatively, the price may reverse the downtrend only if it breaks and consolidates above the top of the descending MF sloping channel and pivot 1.5495
